Which of the Following Would Cause a Movement Along the Labor

question 3

Multiple Choice

Which of the following would cause a movement along the labor supply curve for the steel market?

• A) The federal government imposes a minimum wage law.
• B) The hourly wage in the iron market increases.
• C) Hundreds of immigrants enter the area.
• D) A smallpox outbreak results in thousands of deaths.
• E) Medical malpractice lawsuits cause doctors to have to pay more for insurance,thus decreasing their wage.

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Definitions:

Net Benefit

The total positive effects or gains of a project or action, after subtracting the costs or negative aspects.

Benefit-Cost Ratio

A financial metric used to evaluate the efficiency of an investment, comparing the benefits received to the costs incurred.

Return On Investment

A financial ratio intended to measure the benefit obtained from an investment relative to its cost.

Program Cost

The total expenses associated with executing and maintaining a specific program.